Lumenergi: Company Overview, Funding, and Investment

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Lumenergi: Company Overview, Funding, and Investment Analysis

Introduction

Lumenergi, established in 2006 and headquartered in Newark, California, specialized in energy-efficient lighting management solutions. The company developed advanced dimming electronic ballasts and intelligent control systems aimed at reducing energy consumption in commercial and industrial buildings. In 2013, Lumenergi was acquired by Fulham, a global manufacturer of lighting components.

Funding Overview

Throughout its operational years, Lumenergi secured a total of approximately $27.9 million in funding across four rounds:

  1. Series A (February 14, 2008): The company raised $7.5 million, marking its initial foray into venture capital funding.

  2. Series A Extension (August 20, 2009): An additional $1.5 million was secured to further product development and market expansion.

  3. Series B (August 25, 2010): Lumenergi obtained $12.7 million in a round led by Braemar Energy Ventures, with participation from Townsend VC LLC, Low Carbon Accelerator Ltd., and Noventi Ventures. This infusion was intended to enhance marketing, sales, and product development efforts. Greentech Media

  4. Series B Extension (March 13, 2012): The company raised an additional $6.2 million, with continued support from existing investors, to further scale operations and refine its technology offerings.

Investor Profile

Lumenergi’s growth was supported by a consortium of investors specializing in energy and technology sectors:

  • Braemar Energy Ventures: A venture capital firm focusing on energy technology investments, Braemar led Lumenergi’s Series B round, contributing significantly to the company’s mid-stage development. Greentech Media

  • Low Carbon Accelerator Ltd.: An investment company dedicated to low-carbon technologies, providing capital to support Lumenergi’s environmentally sustainable solutions.

  • Noventi Ventures: A venture capital firm investing in early-stage technology companies, contributing to Lumenergi’s initial and subsequent funding rounds.

  • Townsend VC LLC: Participated in the Series B round, bringing additional investment to bolster Lumenergi’s expansion efforts.

Acquisition by Fulham

On August 5, 2013, Lumenergi was acquired by Fulham, a company renowned for manufacturing lighting components and electronics. This strategic acquisition aimed to integrate Lumenergi’s advanced lighting control technologies into Fulham’s existing product lines, enhancing their energy-efficient lighting solutions portfolio.

PitchBook

Conclusion

Lumenergi’s trajectory from its inception in 2006 to its acquisition in 2013 reflects a focused endeavor to innovate in the energy-efficient lighting sector. Through substantial funding and strategic investments, the company developed technologies that contributed to reducing energy consumption in commercial and industrial settings. The acquisition by Fulham signifies the value and impact of Lumenergi’s solutions in the broader lighting industry landscape.

FAQs

  1. What was Lumenergi’s primary product offering?

    • Lumenergi specialized in energy-efficient lighting management solutions, including advanced dimming electronic ballasts and intelligent control systems designed for commercial and industrial buildings.

  2. How much total funding did Lumenergi secure during its operational years?

    • The company raised approximately $27.9 million across four funding rounds between 2008 and 2012.

  3. Who were the main investors in Lumenergi?

    • Key investors included Braemar Energy Ventures, Low Carbon Accelerator Ltd., Noventi Ventures, and Townsend VC LLC.

  4. When was Lumenergi acquired, and by whom?

    • Lumenergi was acquired on August 5, 2013, by Fulham, a global manufacturer of lighting components.

  5. What was the strategic significance of Lumenergi’s acquisition by Fulham?

    • The acquisition aimed to integrate Lumenergi’s advanced lighting control technologies into Fulham’s product offerings, enhancing their portfolio of energy-efficient lighting solutions.